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Earnings 5-10-24
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CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
PATH 5-29 A
PD 5-30 A
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Plug Power (PLUG) reported a loss of $0.43 per share on revenue of $120.26 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.32 per share on revenue of $172.89 million. The company missed consensus estimates by 34.38% while revenue fell 42.81% compared to the same quarter a year ago.
Roblox (RBLX) reported a loss of $0.43 per share on revenue of $801.30 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.53 per share on revenue of $931.05 million. The Earnings Whisper number was a loss of $0.49 per share. The company beat expectations by 12.24% while revenue grew 22.27% on a year-over-year basis.The company said it expects second quarter bookings of $870.0 million to $900.0 million and 2024 bookings of $4.00 billion to $4.10 billion. The company's previous guidance was 2024 bookings of $4.14 billion to $4.28 billion. The current consensus revenue estimate is $943.93 million for the quarter ending June 30, 2024 and revenue of $4.23 billion for the year ending December 31, 2024.
Shopify (SHOP) reported earnings of $0.20 per share on revenue of $1.86 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.17 per share on revenue of $1.84 billion. The Earnings Whisper number was $0.21 per share. The company missed expectations by 4.76% while revenue grew 23.41% on a year-over-year basis.The company said it expects second quarter revenue of approximately $1.99 billion. The current consensus revenue estimate is $2.01 billion for the quarter ending June 30, 2024.
Perion Network (PERI) reported earnings of $0.35 per share on revenue of $157.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.36 per share on revenue of $156.96 million. The company missed consensus estimates by 2.78% while revenue grew 8.73% on a year-over-year basis.The company said it expects second quarter revenue of $118.0 million to $122.0 million and continues to expect 2024 revenue of $590.0 million to $610.0 million. The current consensus revenue estimate is $118.77 million for the quarter ending June 30, 2024 and revenue of $599.46 million for the year ending December 31, 2024.
Upstart (UPST) reported a loss of $0.31 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.39 per share on revenue of $124.82 million. The Earnings Whisper number was a loss of $0.41 per share. The company beat expectations by 24.39%.
BP (BP) reported Q1 underlying earnings Tuesday of $0.97 per American depositary share, down from $1.66 a year earlier.
Rivian Automotive (RIVN) reported a loss of $1.45 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $1.14 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $1.10 per share. The company missed expectations by 31.82%.
iRobot (IRBT) reported a loss of $1.53 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $2.39 per share on revenue of $139.45 million. The company beat consensus estimates by 35.98%.
RingCentral (RNG) reported earnings of $0.85 per share on revenue of $584.21 million for the first quarter ended March 2024. The consensus earnings estimate was $0.80 per share on revenue of $577.93 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 2.41% while revenue grew 9.47% on a year-over-year basis.
Toast (TOST) reported a loss of $0.15 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.15 per share on revenue of $1.03 billion. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 15.38%.
Twilio (TWLO) reported earnings of $0.80 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.59 per share on revenue of $1.03 billion. The Earnings Whisper number was $0.64 per share. The company beat expectations by 25.00%.
Reddit (RDDT) reported a loss of $8.19 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $8.55 per share on revenue of $212.43 million. The company beat consensus estimates by 4.21%.
Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
Peloton Files FMC Complaint Against Flexport, Citing ‘Millions’ in D&D Fees
Glenn Taylor
Thu, May 9, 2024 at 10:30 AM MDT·4 min read
https://finance.yahoo.com/m/92a8168d-d098-36b7-8d83-3df78229a4cb/peloton-files-fmc-complaint.html
Peloton is accusing Flexport of failing to move its cargo in a timely manner over a roughly three-year stretch, ultimately costing the lifestyle brand “millions” in unreasonable, improper demurrage and detention (D&D) charges.
The exercise equipment company, which gained popularity during the Covid-19 pandemic, filed a claim against the digital freight forwarder through the Federal Maritime Commission (FMC) on May 3.
Peloton says it incurred “substantial” injuries and monetary damages, but did not specify the amount of money it has spent on D&D fees. The company added that charges and damages are “continuing to be tabulated as of the filing of this complaint.”
“Flexport strictly complies with the Ocean Shipping Reform Act and all other rules and regulations within the Shipping Act,” a Flexport spokesperson said. “We go above and beyond to help all our customers ensure on-time delivery and minimize detention and demurrage charges, especially in times of stress like the supply chain crisis that many businesses faced during the pandemic.”
Sourcing Journal reached out to Peloton.
As part of their agreement, Peloton said that Flexport would transport its shipped goods between foreign ports and U.S. ports, as well as to designated U.S. inland locations. The inland transportation is where the problems took place, Peloton said in its 12-page complaint.
“From 2020 to 2023, Flexport repeatedly and chronically failed to properly perform its inland transportation obligations, including, but not limited to, failing to timely remove Peloton Containers from U.S. marine and intermodal terminals, failing to timely deliver Peloton Containers to their designated inland locations, and failing to timely return the empty containers within the applicable free time periods,” read the filing.
Flexport was responsible for arranging and paying for all aspects of the inland movement of Peloton’s goods, including the provision of chassis, and for ensuring the containers were removed from U.S. marine and intermodal terminals and delivered to the final designated inland destination. The freight forwarder subcontracted with motor carriers and railroads to conduct inland transportation, according to the complaint.
Additionally, Peloton says Flexport was supposed to ensure that empty containers would be brought back to their carrier-designated return locations.
Because of Flexport’s alleged failures, Peloton ended up working with another third-party logistics (3PL) provider to manage the inland intermodal transportation of some of its cargo.
Peloton’s filing is yet another claim against carriers and forwarders made through the FMC since 2022, following the passage of the Ocean Shipping Reform Act (OSRA).
The act was signed into law to create more transparency within the shipping community as more shippers claimed that carriers were sticking them with steep fees amid wider supply chain congestion. Furthermore, the claims were accruing as container shipping companies were raking in record profits throughout 2021 and 2022 amid the record-high freight rates at the time.
The fees arguably helped the firms maintain steady profits over that time frame. Between 2020 and 2022, nine of the largest carriers serving the U.S. liner trades individually charged a total of approximately $8.9 billion in demurrage and detention charges and collected roughly $6.9 billion, the FMC said.
But with OSRA in effect, the FMC has more oversight into areas like D&D charges, where the agency can now investigate complaints and enforce monetary penalties. With the expanded supervision, the FMC can also determine whether ocean carriers are unreasonable when they refuse to give shippers cargo space.
In 2024, companies have made claims against major shipping lines including Mediterranean Shipping Company (MSC), CMA CGM, Cosco Shipping, OOCL and Evergreen among others. Late last year, the estate of bankrupt Bed Bath & Beyond filed a $316 million claim against MSC, which was the biggest such complaint made with the FMC to date. The former retailer also filed similar claims against Yang Ming, OOCL and most recently against Evergreen, with all complaints including allegations of excessive D&D fees.
In February, the FMC updated regulations to clarify who can be billed, ensuring that middlemen like truckers that transport the cargo intermodally aren’t getting hit with the fees.
As of May 28, ocean carriers and marine terminal operators will be required to issue detention and demurrage invoices within 30 calendar days from when charges were last incurred. Under the new system, shippers will not be obligated to pay these fees if carriers fail to properly bill.
In the case of Flexport, Peloton is alleging that the freight tech company assessed the D&D charges against it without first evaluating who was responsible. The connected fitness brand pointed out that Flexport didn’t determine whether its own acts or omissions were a cause or contributing factor to the charges.
“Flexport assessed these D&D charges against Peloton and Peloton Containers in circumstances where Peloton was not the party responsible to pick up, move or return the Containers,” the complaint read.
Flexport’s invoices and billing information “lacked adequate detail” to determine the basis and responsibility for the individual D&D charges, Peloton claimed.
Peloton filed the complaint a day after CEO, president and board director Barry McCarthy announced that he would step down from all three of his positions. The fitness startup known for its series of exercise bikes plans to cut 15 percent of staff after having endured 13 straight quarters of financial losses.
Roblox plummets as it cuts full-year bookings forecast
https://www.msn.com/en-us/money/markets/roblox-plummets-as-it-cuts-full-year-bookings-forecast/ar-BB1m61dM?ocid=BingNewsSerp
Roblox (NYSE:RBLX) shares plunged more than 28% in premarket trading on Thursday after the video game platform company offered up a weaker-than-expected bookings forecast for the coming quarter and lowered it for the remainder of 2024.
San Mateo, Calif-based Roblox, which counts 9 to 12 year-olds as its largest demographic, expects second-quarter bookings to be between $870M and $900M, below the $902.5M estimate. Second-quarter revenue is forecast to be between $855M and $880M, above the $805.2M estimate.
It expects to lose between $265M and $267M on a net basis, better than the $345.5M that was expected.
The company also lowered its full-year bookings forecast, as it now sees the closely watched metric coming in between $4B and $4.1B, down from a prior outlook of $4.14B to $4.28N.
Despite the weak bookings forecast, Roblox raised its full-year sales outlook, as it now sees full-year revenue between $3.45B and $3.53B, up from a previous range of $3.3B to $3.4B. Analysts were expecting $3.36B.
It also upped its forecast for annual net loss on a consolidated basis, as Roblox now expects to lose between $1.04B and $1.1B, up from a prior view of $1.37B to $1.4B.
Free cash flow for the year is expected to be between $350M and $420M while adjusted EBITDA is forecast to be between $95M and $147M. The company said it will no longer refer to covenant adjusted EBITDA in its letter to shareholders and earnings releases.
First quarter results
Roblox lost $0.43 per share during the fourth-quarter, as bookings climbed 19.4% year-over-year to $923.8M. Analysts had expected a loss of $0.53 per share and $892.8M in bookings.
Revenue for the period came in at $801.3M, above the $769.3M estimate. Free cash flow for the period was $191.M.
Average daily active users rose 17% year-over-year to finish the period at 77.7M, above the 77.29M estimate. Monthly unique payers also climbed, up 13% year-over-year, to finish at 15.6M. Average bookings per monthly unique player rose 6% to $19.68.
Gamers continued to take to the platform, as hours engaged came in at 16.7B for the quarter, up 15% year-over-year, but below the estimate of 17.05B.
The company will host a conference call at 8:30 a.m. EST to discuss the results.
1 Reason Goldman Sachs Analysts Are Skeptical of Plug Power Stock
https://finance.yahoo.com/m/daa62c0d-d7d1-3494-ab29-0a3584d075f5/1-reason-goldman-sachs.html
Ryan Vanzo, The Motley Fool
Thu, May 9, 2024 at 5:18 AM MDT·4 min read
If you listen to Plug Power's (NASDAQ: PLUG) management team, there's a ton of long-term upside to the company's business. Trillions of dollars are being invested into renewable technologies right now, including hydrogen fuel cells, which Plug Power specializes in. There's a case to be made that the company is primed to ride a tidal wave of investor interest.
Analysts at Goldman Sachs aren't so sure. In fact, according to a new research piece, there's one factor in particular that they are worried about.
Goldman Sachs analysts are worried about this 1 thing
Plug Power is all in on hydrogen fuel cell technology. The company was founded in 1997 for this purpose. Hydrogen fuel cells are electrochemical units that combine hydrogen and oxygen atoms to produce energy. Hydrogen fuel cells are already being used on a small scale in power plants, vehicles, spacecraft, computers, and cellphones. The issue isn't whether the technology works, but whether it works at scale at an economic price point.
According to the U.S. Department of Energy, "To be competitive in the marketplace, the cost of fuel cells will have to decrease substantially without compromising performance." When might costs fall enough to make hydrogen a viable fuel source for major parts of the world economy? It's hard to say, but there's a good chance this tipping point won't occur this decade.
Some research says that, even assuming regulatory tailwinds like increased subsidies and a carbon tax, hydrogen fuel cells may not be competitive until the 2030s. According to global consultancy McKinsey, "Industry is projected to drive the majority of clean hydrogen uptake until 2030, followed by a wider uptake in new applications by 2050." So there will be growth in demand this decade, but the biggest growth drivers for hydrogen fuel will be in the decades to come.
This brings us to Goldman Sachs and its recent research note on Plug Power stock. The firm's forecast claims that investors will remain skeptical of the longest-duration pockets of the equity market. Basically, what analysts are saying is that companies whose cash flows are far off into the future will struggle in today's market.
This makes a lot of sense. With both economic and interest rate uncertainty, these far-off cash flows will be extremely sensitive to shifts in investor expectations. Goldman Sachs estimates that Plug Power has an equity duration of 25.8 years. This is roughly the weighted average of the company's expected cash flows.
"Higher cost of capital has led investors to scrutinize unprofitable or highly levered equities," Goldman Sachs analysts conclude. That will be a problem for Plug Power. Its capital expenditures are on the rise as the firm attempts to scale its operations. The biggest demand drivers for its products, meanwhile, may still be years or even decades away. Plug Power may be tapping a potentially huge market, but the gap between today and when that market materializes may be too large in a market where the cost of capital is high and investors are wary of betting on distant cash flows.
Is Plug Power stock a buy, hold, or sell?
There's no doubt that demand for hydrogen fuel cells is set to grow in the decades to come. Last year, an estimated $1.7 trillion was invested in clean energy initiatives. But the vast majority of that money was dedicated to energy sources that are already economically viable, like wind and solar. Hydrogen may see its day in the sun, but it won't be in 2024. It may not even be this decade.
Even if Plug Power does everything right, it may struggle to survive financially until demand drivers pick up meaningfully. Already, the company is massively diluting shareholders through a $1 billion share issuance program, and just last year it issued a going concern notice -- that's an accountant's way of warning that a company may soon go insolvent.
Plug Power is stuck between a rock and a hard place. It's currently struggling financially, yet its biggest demand drivers won't appear anytime soon. For this reason, it's likely best to stay away from this volatile stock.
Roblox cuts annual bookings forecast on muted player spending
Zaheer Kachwala
Updated Thu, May 9, 2024 at 6:23 AM MDT·2 min read
https://finance.yahoo.com/news/roblox-cuts-annual-bookings-forecast-121030202.html
(Reuters) - Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation.
The company's shares fell over 25% in premarket trading.
Roblox Corporation (RBLX)View quote details
NYSE - Nasdaq Real Time Price (USD)
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Pre-market: 8:38AM EDT
The lowered forecast marks the latest downbeat report from the gaming industry, which has laid off hundreds of employees and shut studios this year to cope with declining demand.
Electronic Arts also gave a weak revenue forecast earlier this week.
Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates.
The company said it was conservative with its second-quarter forecast as the Easter holiday, a period of high engagement on its platform, was during the first quarter this year compared with the second quarter a year earlier.
The gaming industry is grappling with lower engagement, which is expected to keep growth in the PC and console market below pre-pandemic levels through 2026, according to research firm Newzoo.
The number of hours gamers aged 13 or more spent on Roblox's platform grew by 19% in the first quarter, the lowest growth rate for the company in about two years.
"That's not unusual," Roblox Chief Financial Officer Michael Guthrie said, adding that the company was adding a lot of older gamers who take a while to get settled and spend more time on the platform.
Roblox has also turned to digital ads to diversify its revenue. Earlier this month, it started displaying virtual billboards featuring content from brands such as Walmart and Warner Bros Discovery to users on its platform.
Roblox will build the infrastructure for the ad platform in 2024 and start providing forecast for ad revenue in 2025, Guthrie added.
Earnings 5-9-24
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
PATH 5-29 A
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Plug Power (PLUG) reported a loss of $0.43 per share on revenue of $120.26 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.32 per share on revenue of $172.89 million. The company missed consensus estimates by 34.38% while revenue fell 42.81% compared to the same quarter a year ago.
Roblox (RBLX) reported a loss of $0.43 per share on revenue of $801.30 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.53 per share on revenue of $931.05 million. The Earnings Whisper number was a loss of $0.49 per share. The company beat expectations by 12.24% while revenue grew 22.27% on a year-over-year basis.The company said it expects second quarter bookings of $870.0 million to $900.0 million and 2024 bookings of $4.00 billion to $4.10 billion. The company's previous guidance was 2024 bookings of $4.14 billion to $4.28 billion. The current consensus revenue estimate is $943.93 million for the quarter ending June 30, 2024 and revenue of $4.23 billion for the year ending December 31, 2024.
Shopify (SHOP) reported earnings of $0.20 per share on revenue of $1.86 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.17 per share on revenue of $1.84 billion. The Earnings Whisper number was $0.21 per share. The company missed expectations by 4.76% while revenue grew 23.41% on a year-over-year basis.The company said it expects second quarter revenue of approximately $1.99 billion. The current consensus revenue estimate is $2.01 billion for the quarter ending June 30, 2024.
Perion Network (PERI) reported earnings of $0.35 per share on revenue of $157.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.36 per share on revenue of $156.96 million. The company missed consensus estimates by 2.78% while revenue grew 8.73% on a year-over-year basis.The company said it expects second quarter revenue of $118.0 million to $122.0 million and continues to expect 2024 revenue of $590.0 million to $610.0 million. The current consensus revenue estimate is $118.77 million for the quarter ending June 30, 2024 and revenue of $599.46 million for the year ending December 31, 2024.
Upstart (UPST) reported a loss of $0.31 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.39 per share on revenue of $124.82 million. The Earnings Whisper number was a loss of $0.41 per share. The company beat expectations by 24.39%.
BP (BP) reported Q1 underlying earnings Tuesday of $0.97 per American depositary share, down from $1.66 a year earlier.
Rivian Automotive (RIVN) reported a loss of $1.45 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $1.14 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $1.10 per share. The company missed expectations by 31.82%.
iRobot (IRBT) reported a loss of $1.53 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $2.39 per share on revenue of $139.45 million. The company beat consensus estimates by 35.98%.
RingCentral (RNG) reported earnings of $0.85 per share on revenue of $584.21 million for the first quarter ended March 2024. The consensus earnings estimate was $0.80 per share on revenue of $577.93 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 2.41% while revenue grew 9.47% on a year-over-year basis.
Toast (TOST) reported a loss of $0.15 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.15 per share on revenue of $1.03 billion. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 15.38%.
Twilio (TWLO) reported earnings of $0.80 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.59 per share on revenue of $1.03 billion. The Earnings Whisper number was $0.64 per share. The company beat expectations by 25.00%.
Reddit (RDDT) reported a loss of $8.19 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $8.55 per share on revenue of $212.43 million. The company beat consensus estimates by 4.21%.
Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Fintech Upstart Says It Received SEC Subpoena on AI Model, Loans
Carmen Arroyo and Paige Smith
Wed, May 8, 2024 at 3:39 PM MDT·2 min read
Upstart Holdings Inc See Revenue Of About $125 Million For Q2
(Bloomberg) -- Financial technology lender Upstart Holdings Inc. has been subpoenaed by Wall Street’s main regulator about disclosures, including its artificial intelligence models and loans, the company said Wednesday.
Upstart, which uses AI for underwriting, said it is cooperating with the Securities and Exchange Commission after having received the subpoena on Nov. 17. The company is “unable to predict the outcome of this matter,” Upstart said in a securities filing.
A spokesperson said the company didn’t have any further comment.
The SEC is one of multiple agencies scrutinizing companies’ use of AI, having proposed restrictions last year. Other financial regulators have been examining AI in underwriting because potential biases or otherwise faulty criteria could lead to bad outcomes, while agencies including the Federal Trade Commission are looking into non-financial companies, Bloomberg previously reported.
Upstart’s disclosure was part of its quarterly earnings report, which showed that 90% of its unsecured loans were fully automated.
“For Upstart and our lending partners, it means there’s no human in the loop whatsoever to process and complete the loan application,” Upstart CEO Dave Girouard during a call to discuss results on Tuesday, when it first released results.
The company’s shares fell 5.6% on Wednesday following its report, which included a revenue forecast that missed analyst expectations.
Founded in 2012, Upstart is one of several consumer-facing startups that blossomed during the pandemic, drawing in borrowers with promises of quick personal loan approvals using AI. The sector has struggled more recently because of high interest rates as well as traditional banks pulling back from buying their loans due to a sector-wide crisis.
Last year, Upstart struck an agreement to sell up to $4 billion of consumer installment loans to Castlelake LP, Bloomberg reported. It also sold a $300 million portfolio of loans to Ares Management Corp., as private credit firms scooped up consumer debt. Upstart has also tapped the asset-backed securities markets regularly before, bundling its loans into bonds of varying risk and size. It last sold this kind of debt in October, issuing just under $200 million of securities, according to data compiled by Bloomberg.
The situation has improved recently, as banks, credit unions and investors have been facing less stress, Girouard said on the call. Upstart expects a return to positive earnings before interest, taxes, depreciation and amortization — a measure of profitability — later this year.
--With assistance from Bre Bradham.
Why iRobot Stock Zoomed Higher on Wednesday
Demitri Kalogeropoulos, The Motley Fool
Wed, May 8, 2024 at 10:03 AM MDT·3 min read
https://finance.yahoo.com/m/54c5095b-b27f-3916-a307-2a3691f2b92e/why-irobot-stock-zoomed.html
iRobot (NASDAQ: IRBT) investors had a great Wednesday morning as shares gained 10.7% compared to a modest drop in the S&P 500. However, the consumer tech company, which specializes in robotic home cleaning devices, is still in deeply negative territory for the year. Its shares are down by more than 70% in 2024 so far, while the market is up 9%.
Wednesday's boost came as investors became a little less pessimistic about iRobot's near-term growth prospects following the release of its first-quarter earnings report after the close Tuesday.
Still shrinking
Investors had low expectations for the company heading into the earnings report. Amid rising competition, demand for iRobot's core cleaning products has been slumping for several quarters. Also, shoppers have pulled back on spending in this category, too, after sales soared during the early stages of the pandemic. Unfortunately, those negative trends persisted in Q1.
iRobot managed to boost sales volumes slightly, with robot unit shipments improving to 456,000 from 436,000 in the prior-year period. Yet the company had to slash prices to secure that growth. Average selling prices slid to $346 from $402 a year earlier. As a result, overall sales fell to $150 million from $160 million.
Yet that result beat management's short-term target, mainly around cost cuts. "We exceeded our financial expectations for the first quarter as our team executed on our restructuring plan to significantly improve iRobot's near-term operations," outgoing interim CEO Glen Weinstein said in a press release. .
The path forward
iRobot is still facing huge challenges as it works to stabilize growth and return to profitability in the wake of a failed acquisition bid by Amazon. Sales are on track to decline again this fiscal year, and management projected significant net losses ahead.
The stock rebounded anyway on Wednesday morning, partly because investors had been highly pessimistic about the business heading into this week's earnings update. It's encouraging to see progress, however modest, in iRobot's cost-cutting efforts. The appointment of a new CEO -- Gary Cohen, who was previously an executive at Gillette, Timex, and Energizer -- could mean more aggressive restructuring moves are ahead.
But most investors will want to watch this stock from the sidelines until there's a clear rebound path for the business.
Earnings 5-8-24
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
PATH 5-29 A
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Trade Desk (TTD) reported earnings of $0.26 per share on revenue of $491.25 million for the first quarter ended March 2024. The consensus earnings estimate was $0.21 per share on revenue of $479.63 million. The Earnings Whisper number was $0.23 per share. The company beat expectations by 13.04% while revenue grew 28.33% on a year-over-year basis.
Airbnb (ABNB) reported earnings of $0.41 per share on revenue of $2.14 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.23 per share on revenue of $2.07 billion. The Earnings Whisper number was $0.33 per share. The company beat expectations by 24.24% while revenue grew 17.82% on a year-over-year basis.The company said in its shareholders letter it expects second quarter revenue of $2.68 billion to $2.74 billion. The current consensus revenue estimate is $2.76 billion for the quarter ending June 30, 2024.
Shopify (SHOP) reported earnings of $0.20 per share on revenue of $1.86 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.17 per share on revenue of $1.84 billion. The Earnings Whisper number was $0.21 per share. The company missed expectations by 4.76% while revenue grew 23.41% on a year-over-year basis.The company said it expects second quarter revenue of approximately $1.99 billion. The current consensus revenue estimate is $2.01 billion for the quarter ending June 30, 2024.
Perion Network (PERI) reported earnings of $0.35 per share on revenue of $157.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.36 per share on revenue of $156.96 million. The company missed consensus estimates by 2.78% while revenue grew 8.73% on a year-over-year basis.The company said it expects second quarter revenue of $118.0 million to $122.0 million and continues to expect 2024 revenue of $590.0 million to $610.0 million. The current consensus revenue estimate is $118.77 million for the quarter ending June 30, 2024 and revenue of $599.46 million for the year ending December 31, 2024.
Upstart (UPST) reported a loss of $0.31 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.39 per share on revenue of $124.82 million. The Earnings Whisper number was a loss of $0.41 per share. The company beat expectations by 24.39%.
BP (BP) reported Q1 underlying earnings Tuesday of $0.97 per American depositary share, down from $1.66 a year earlier.
Rivian Automotive (RIVN) reported a loss of $1.45 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $1.14 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $1.10 per share. The company missed expectations by 31.82%.
iRobot (IRBT) reported a loss of $1.53 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $2.39 per share on revenue of $139.45 million. The company beat consensus estimates by 35.98%.
RingCentral (RNG) reported earnings of $0.85 per share on revenue of $584.21 million for the first quarter ended March 2024. The consensus earnings estimate was $0.80 per share on revenue of $577.93 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 2.41% while revenue grew 9.47% on a year-over-year basis.
Toast (TOST) reported a loss of $0.15 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.15 per share on revenue of $1.03 billion. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 15.38%.
Twilio (TWLO) reported earnings of $0.80 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.59 per share on revenue of $1.03 billion. The Earnings Whisper number was $0.64 per share. The company beat expectations by 25.00%.
Reddit (RDDT) reported a loss of $8.19 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $8.55 per share on revenue of $212.43 million. The company beat consensus estimates by 4.21%.
Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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UPDATE 2-Shopify forecasts downbeat quarterly revenue growth, shares sink
08:13:25 AM ET, 05/08/2024 - Reuters
(Updates share move in lead, adds details in paragraph 6-9)
May 8 (Reuters) - Canadian e-commerce platform Shopify forecast its slowest quarterly revenue growth in two years against the backdrop of an uncertain economy and tepid consumer spending, sending its U.S. shares slumping 16.5% in premarket trading.
While e-commerce growth has been normalizing after a post-pandemic slump, consumers have been looking to cut down on costs, putting Shopify at a disadvantage despite price hikes and new AI-based tools.
Adding to the company's pressure, its core clientele is made up of small and medium-sized businesses (SMBs) that have been more susceptible to the hit from sticky inflation.
The company said on Wednesday it expected second-quarter revenue to grow at a high-teens percentage, disappointing investors who had seen average growth of about 26% over the past few quarters.
Analysts estimated current-quarter revenue to grow 19.35%, according to LSEG data.
The company expects operating expenses to be up at a low-to-mid-single digit percentage rate for the second quarter, compared with a 4% fall in the first three months of the year.
The results included the impact of the sale of its logistics arm to freight forwarder Flexport.
Shopify reported first-quarter revenue of $1.86 billion, compared with analysts' average estimate of $1.85 billion.
Excluding items, earnings of 20 cents per share also topped expectations of 17 cents.
Shopify Q1 results eclipsed by GAAP loss, margin shrinkage in Q2
Shopify (NYSE:SHOP) shares are limping into Wednesday’s open as much as 17% in the red after the company’s latest quarterly results were overshadowed by a GAAP loss and expectations for a 50 basis point decline in its gross margin.
“You’re seeing the strongest version of Shopify in our history,” CEO Harley Finkelstein said.
But underneath the better-than-expected adjusted profit and above consensus revenue, investors are zeroing in on the $0.21 loss per share in net income compared to a profit of $0.05 in the same quarter last year, attributed to higher costs for subscription services and merchant solutions along with increased marketing expense. This missed analysts estimates for a profit of $0.08 per share. Additionally, gross margin is expected to shrink 50 basis point in Q2. However, this could likely be an adjustment to Q1 in which gross margin had expanded to 51.4% from 47.5% due to the lack of dilutive impact of the logistics business and changes in pricing from standard plans.
The other projections for Q2 include revenue growth of high-teens percentage rate, translating into year-over-year growth rate in the low-to-mid-twenties when adjusted for the 300-400 basis point impact from the sale of the logistics unit.
GAAP operating expense dollars in Q2 are expected to be up at a low-to-mid-single digit percentage rate which should result in operating expenses as a percentage of revenue of around 45% to 46%. Free cash flow margin should remain in the double digits.
Shares are expected to open at their lowest level since November.
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Is Reddit Stock A Buy After Surging On Its Q1 Earnings Report?
https://www.investors.com/research/reddit-stock-buy-rddt/?src=A00220
SCOTT LEHTONEN07:57 AM ET 05/08/2024
Social media platform Reddit (RDDT) soared more than 120% from its IPO price following its March 21 debut. Following the successful initial public offering, is Reddit stock a buy in today's stock market?
On April 18, Reddit stock hit new lows amid the type of volatile trading often seen in new issues. Shares traded as low as 37.35 before rebounding.
Following gains in recent weeks, Reddit reported quarterly results for the first time. Revenue came in above expectations, while the company's loss was not as bad as analysts feared.
Reddit said that it lost $8.19 per share on sales of $243 million. Analysts were expecting Reddit to post a loss of $8.75 per share from sales of $214 million, according to FactSet.
Reddit stock soared nearly 12% in premarket trading Wednesday, trading around 55.20 a share.
When Reddit went public on the New York Stock Exchange, shares soared as much as 70% beyond the 34 offering price. Reddit stock closed that day at 50.31, up 48%. The opening price gave Reddit a market value of about $6.4 billion. The IPO raised $748 million.
Reddit Stock Fundamental Analysis
Reddit, founded in 2005, operates one of the world's largest and most active online message-board websites. The Reddit platform hosts a stockpile of 1 billion cumulative posts across 100,000 active communities, according to the Reddit IPO filing.
Reddit last year had sales of $804 million, up 21% from 2022. But the company lost about $91 million in 2023 and is yet to turn a profit. Reddit acknowledged in its IPO filing that it was slow to monetize its platform.
"We made a profit in the back half of 2023. We grew revenue three times as fast as costs last year," Reddit Chief Executive Steve Huffman said in a CNBC interview. "I think beyond the community of Reddit, the platform of Reddit, there is actually a very nice, special business here."
Reddit Stock Technical Analysis
Partly due to its short and volatile trading history, Reddit stock shows a weak 54 out of 99 IBD Composite Rating, according to the IBD Stock Checkup. The company's losses are another reason. The Composite Rating helps investors easily measure a stock's fundamental and technical metrics.
The stock so far has not formed a proper base. A longer correction could result in a cup base, as Reddit stock looks to build the right side of that formation.
Be sure to read how to adjust to changing market conditions, with IBD's new exposure levels.
Insiders Sell Reddit Stock
In recent weeks, Reddit CEO Steve Huffman and other top executives and board members disclosed share sales, just a week after the social network had its initial public offering.
Huffman sold 500,000 shares on March 25 at an average $32.30 price, receiving $16.15 million. CFO Vollero Andrew sold 71,765 Reddit shares for $2.318 million. Chief Operating Officer Jennifer Wong sold 514,000 shares for $16.602 million.
Chief Technology Officer Christopher Slowe sold 185,000 shares for $5.975 million. And Chief Accounting Officer Michelle Reynolds sold 3,033 RDDT shares for $97,966. Board member David Habiger sold 3,000 shares for $102,000.
All told, that's $41.245 million worth of Reddit shares sold.
Is Reddit Stock A Buy Right Now?
Despite its recent rebound, the stock remains more than 30% off its post-IPO highs.
Reddit stock is not a buy right now. Potential investors should wait for the stock to form a new base before purchasing shares.
Shopify Earnings Top Views. E-Commerce Stock Plunges On Profit Margin Outlook
https://www.investors.com/news/technology/shopify-stock-shopify-earnings-news-q12024/?src=A00220
REINHARDT KRAUSE07:45 AM ET 05/08/2024
Shopify (SHOP) on Wednesday reported first-quarter earnings that topped analyst estimates while revenue edged by views. Shopify stock plunged on the e-commerce firm's guidance for the current June quarter.
Released before the market open, Shopify earnings for the quarter ending March 31 were 20 cents on an adjusted basis. Analysts polled by Visible Alpha predicted profit of 16 cents, up from 1-cent in the year earlier period.
Revenue climbed 23% to $1.9 billion versus estimates of $1.843 billion.
Further, Shopify said Q1 gross merchandise volume from merchant transactions rose 23% to $60.9 billion vs. estimates of $59.67 billion.
Shopify Stock Tumbles
Merchant solutions revenue rose 20% to $1.4 billion vs. estimates of $1.34 billion. Subscription revenue rose 34% to $511 million versus estimates of $499.3 million.
On the stock market today, Shopify stock plunged 17% to 63.80 in early trading. Heading into the earnings report, shares had clawed back above the company's 50-day moving average.
Heading into the Shopify earnings report, shares were up 2% in 2024 and 26% from a year ago.
Revenue, Margin Outlook
For the current June quarter, Shopify said it expects: "Revenue to grow at a high-teens percentage rate on a year-over-year basis, which translates into a year-over-year growth rate in the low-to-mid-twenties when adjusting for the 300 to 400 basis points impact from the sale of our logistics businesses. Gross margin for Q2 is expected to decrease by approximately 50 basis points compared to Q1 2024."
For the June quarter, analysts estimated $2.025 billion in revenue and $65.46 billion in GMV for SHOP stock.
The company in 2023 sold its delivery and logistics business to Flexport, easing Wall Street worries over rising capital spending.
Shopify sets up e-commerce websites for small businesses, and partners with others to handle digital payments and shipping.
Meanwhile, SHOP stock holds a Relative Strength Rating of 77 out of a best-possible 99, according to IBD Stock Check-up.
Earnings 5-8-24
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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Shopify (SHOP) reported earnings of $0.20 per share on revenue of $1.86 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.17 per share on revenue of $1.84 billion. The Earnings Whisper number was $0.21 per share. The company missed expectations by 4.76% while revenue grew 23.41% on a year-over-year basis.The company said it expects second quarter revenue of approximately $1.99 billion. The current consensus revenue estimate is $2.01 billion for the quarter ending June 30, 2024.
Perion Network (PERI) reported earnings of $0.35 per share on revenue of $157.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.36 per share on revenue of $156.96 million. The company missed consensus estimates by 2.78% while revenue grew 8.73% on a year-over-year basis.The company said it expects second quarter revenue of $118.0 million to $122.0 million and continues to expect 2024 revenue of $590.0 million to $610.0 million. The current consensus revenue estimate is $118.77 million for the quarter ending June 30, 2024 and revenue of $599.46 million for the year ending December 31, 2024.
Upstart (UPST) reported a loss of $0.31 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.39 per share on revenue of $124.82 million. The Earnings Whisper number was a loss of $0.41 per share. The company beat expectations by 24.39%.
BP (BP) reported Q1 underlying earnings Tuesday of $0.97 per American depositary share, down from $1.66 a year earlier.
Rivian Automotive (RIVN) reported a loss of $1.45 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $1.14 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $1.10 per share. The company missed expectations by 31.82%.
iRobot (IRBT) reported a loss of $1.53 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $2.39 per share on revenue of $139.45 million. The company beat consensus estimates by 35.98%.
RingCentral (RNG) reported earnings of $0.85 per share on revenue of $584.21 million for the first quarter ended March 2024. The consensus earnings estimate was $0.80 per share on revenue of $577.93 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 2.41% while revenue grew 9.47% on a year-over-year basis.
Toast (TOST) reported a loss of $0.15 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.15 per share on revenue of $1.03 billion. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 15.38%.
Twilio (TWLO) reported earnings of $0.80 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.59 per share on revenue of $1.03 billion. The Earnings Whisper number was $0.64 per share. The company beat expectations by 25.00%.
Reddit (RDDT) reported a loss of $8.19 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $8.55 per share on revenue of $212.43 million. The company beat consensus estimates by 4.21%.
Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Earnings 5-6-24
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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Upstart (UPST) reported a loss of $0.31 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.39 per share on revenue of $124.82 million. The Earnings Whisper number was a loss of $0.41 per share. The company beat expectations by 24.39%.
BP (BP) reported Q1 underlying earnings Tuesday of $0.97 per American depositary share, down from $1.66 a year earlier.
Rivian Automotive (RIVN) reported a loss of $1.45 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $1.14 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $1.10 per share. The company missed expectations by 31.82%.
iRobot (IRBT) reported a loss of $1.53 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $2.39 per share on revenue of $139.45 million. The company beat consensus estimates by 35.98%.
RingCentral (RNG) reported earnings of $0.85 per share on revenue of $584.21 million for the first quarter ended March 2024. The consensus earnings estimate was $0.80 per share on revenue of $577.93 million. The Earnings Whisper number was $0.83 per share. The company beat expectations by 2.41% while revenue grew 9.47% on a year-over-year basis.
Toast (TOST) reported a loss of $0.15 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.15 per share on revenue of $1.03 billion. The Earnings Whisper number was a loss of $0.13 per share. The company missed expectations by 15.38%.
Twilio (TWLO) reported earnings of $0.80 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.59 per share on revenue of $1.03 billion. The Earnings Whisper number was $0.64 per share. The company beat expectations by 25.00%.
Reddit (RDDT) reported a loss of $8.19 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $8.55 per share on revenue of $212.43 million. The company beat consensus estimates by 4.21%.
Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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RingCentral, Inc. (RNG) Tops Q1 EPS by 7c; raises guidance
RingCentral, Inc. (NYSE: RNG) reported Q1 EPS of $0.87, $0.07 better than the analyst estimate of $0.80. Revenue for the quarter came in at $584 million versus the consensus estimate of $578.15 million.
GUIDANCE:
RingCentral, Inc. sees Q2 2024 EPS of $0.87-$0.88, versus the consensus of $0.85. RingCentral, Inc. sees Q2 2024 revenue of $584.5-587.5 million, versus the consensus of $585.8 million.
RingCentral, Inc. sees FY2024 EPS of $3.59-$3.67, versus the consensus of $3.55. RingCentral, Inc. sees FY2024 revenue of $2.379-2.399 billion, versus the consensus of $2.384 billion.
Reddit predicts strong second-quarter revenue, shares soar
Reuters
Tue, May 7, 2024 at 2:11 PM MDT·1 min read
https://finance.yahoo.com/news/reddit-tops-revenue-estimates-201152982.html
(Reuters) -Reddit forecast quarterly revenue above market estimates on Tuesday in its first earnings as a public company, riding on strong user growth and an uptick in the advertising market.
Shares of the social media platform were up 17% in extended trading.
The company said it expects second-quarter revenue to be between $240 million and $255 million, compared with analysts' average estimate of $223.8 million, according to LSEG data.
The results follow strong earnings from rivals including Snap and fan optimism that marketers are ramping up spending this year, after an ad market slump in 2023 caused by sticky inflation and an uncertain economic outlook. Reddit is also trying to diversify revenue by licensing its user-generated content for the training of data-hungry AI models. It signed a deal with Google earlier this year that is worth about $60 million annually.
Market Chatter: on PTON
4.03 cpps Gap 3.67
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UPDATE 2-Private equity firms consider potential Peloton buyout, CNBC reports
09:23:37 AM ET, 05/07/2024 - Reuters
(Updates shares, adds Peloton comment, adds background)
May 7 (Reuters) - A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and return to growth after 13 straight quarters of losses, CNBC reported on Tuesday.
Shares of the fitness equipment maker rose 20.6% in premarket trading.
The New York-based company has had talks with at least one firm in recent months as it considers going private, the report said, citing people familiar with the matter.
"We do not comment on speculation or rumors," a Peloton spokesperson said when contacted for comment on the report.
Last week, Peloton CEO Barry McCarthy quit and the company announced job cuts to reduce costs after posting weak results.
Dwindling demand for its stationary bikes and treadmills despite price cuts led to Peloton reporting a smaller-than-expected revenue for the third quarter and trimming its full-year forecast.
A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions, the report added.
(Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)
Earnings 5-6-24
BP 5-7 B
TOST 5-7 A
UPST 5-7 A
RNG 5-7 A
TWLO 5-7 A
IRBT 5-7 A
RIVN 5-7 A
RDDT 5-7 A
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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Walt Disney (DIS) reported earnings of $1.21 per share on revenue of $22.08 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.12 per share on revenue of $22.11 billion. The Earnings Whisper number was $1.20 per share. The company beat expectations by 0.83% while revenue grew 1.23% on a year-over-year basis.
The company said it expects fiscal 2024 earnings of approximately $4.70 per share. The company's previous guidance was earnings of approximately $4.60 per share and the current consensus earnings estimate is $4.70 per share for the year ending September 30, 2024.
Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Apple, Rivian Reportedly In Talks For Partnership
ED CARSON08:01 AM ET 05/07/2024
https://www.investors.com/news/apple-rivian-in-talks-for-partnership/?src=A00220
Apple (AAPL) is in talks with EV maker Rivian (RIVN) about a possible partnership, DigiTimes reported Monday night. Rivian stock jumped while Apple edged higher.
Taiwan-based Digitimes cited supply chain sources. But it's unclear what any such alliance would entail. Apple canceled its long-running "Project Titan" Apple Car in late February.
It's unclear if there are actual talks. Even if true, talks needn't amount to anything.
Apple is holding a "Let Loose" event on Tuesday morning that is expected to focus on new iPads.
Rivian reports first-quarter earnings Tuesday night.
Apple, Rivian Stock
Apple stock rose a fraction early Tuesday after dipping 0.9% to 181.71 in Monday's trading. Shares gapped up 6% on Friday following better-than-expected quarterly earnings and a $110 billion buyback.
Rivian stock jumped 8% in premarket trading, signaling a move above its 50-day line. Shares rose 2.6% on Monday to 10.33. RIVN hit a record low last month.
Rivian had a market cap of just $10.1 billion as of Monday's close.
Earnings 5-6-24
DIS 5-7 B
BP 5-7 B
TOST 5-7 A
UPST 5-7 A
RNG 5-7 A
TWLO 5-7 A
IRBT 5-7 A
RIVN 5-7 A
RDDT 5-7 A
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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Palantir Technologies (PLTR) reported earnings of $0.08 per share on revenue of $634.34 million for the first quarter ended March 2024. The consensus earnings estimate was $0.08 per share on revenue of $614.88 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 11.11% while revenue grew 20.78% on a year-over-year basis. The company said it expects second quarter revenue of $649.0 million to $653.0 million and 2024 revenue of $2.677 billion to $2.689 billion. The company's previous guidance was 2024 revenue of $2.652 billion to $2.668 billion and the The current consensus revenue estimate is $642.88 million for the quarter ending June 30, 2024 and revenue of $2.68 billion for the year ending December 31, 2024.
Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Palantir Technologies Likely to Report Strong Q1, Wedbush Says
12:04:05 PM ET, 05/06/2024 - MT Newswires
12:04 PM EDT, 05/06/2024 (MT Newswires) -- Palantir Technologies (PLTR) is likely to report another strong Q1 quarter Monday, fueled by US commercial success, Wedbush said in a note.
"The big focus tonight will be hearing about AIP customer conversion, US commercial strength momentum, and the trajectory of
larger deals in the pipeline," Wedbush analysts, including Daniel Ives, said. AIP refers to Artificial Intelligence Platform.
Customers continue to discover new use cases with Palantir's AIP, presenting cross-selling opportunities, the analysts said.
"We believe Palantir is on the golden path for its monetization story on the commercial side and is well-positioned to capitalize on the strong commercial spending tailwinds for 2024/2025," they said.
"As we have discussed this story, growth, and ultimate re-rating is around Palantir's US commercial business which is estimated to show growth of at least 40% in 2024," the analysts added.
Wedbush maintained its outperform rating with a 12-month price target of $35.
Rivian receives $827 mln in incentives to expand Illinois facility, shares jump
15:27:03 PM ET, 05/02/2024 - Reuters
May 2 (Reuters) - Rivian Automotive said on Thursday it has received $827 million in an incentive package from the State of Illinois to expand operations at its Normal facility.
The Irvine, California-based company's shares rose nearly 10% in afternoon trade after having lost more than 60% of their value this year, as of Wednesday's close.
The Illinois plant, where Rivian also makes its electric delivery vans for its largest investor, Amazon.com, can produce 150,000 vehicles a year, the company said.\
Rivian will be producing its less-expensive midsize SUV R2 model, unveiled in March and will take on Tesla's Model Y, at the plant
With the addition of the R2, Rivian expects a total annual capacity of 215,000 vehicles.
The company said the funds from the state of Illinois would be spent on expanding the plant, improving public infrastructure and job training programs for its workforce.
The incentive package would add to Rivian's balance of cash and cash equivalents of $7.86 billion at end of last year.
Earlier this year, Rivian had said it expects to spend about $1.75 billion in capital expenditures in 2024, driven by additional investment in a second facility just outside of Atlanta, Georgia facility, but it has since paused construction of the plant.
Construction would resume later in Georgia as that site "remains an extremely important part of its long-term strategy," Rivian said.
Rivian, which is set to report first-quarter results next week, raised more than $3 billion with two bond issuances last year, but some analysts and investors say it will need additional capital by 2026. (Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar and Tasim Zahid)
Earnings 5-3-24
PLTR 5-6 A
DIS 5-7 B
BP 5-7 B
TOST 5-7 A
UPST 5-7 A
RNG 5-7 A
TWLO 5-7 A
IRBT 5-7 A
RIVN 5-7 A
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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Apple (AAPL) reported earnings of $1.53 per share on revenue of $90.75 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $1.51 per share on revenue of $89.79 billion. The Earnings Whisper number was $1.50 per share. The company beat expectations by 2.00% while revenue fell 4.31% compared to the same quarter a year ago.The company said during its conference call it expects third-quarter earnings of $1.28 to $1.34 per share on revenue of approximately $83.84 billion. The current consensus earnings estimate is $1.31 per share on revenue of $82.65 billion for the quarter ending June 30, 2024.
Block (SQ) reported earnings of $0.74 per share on revenue of $5.96 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.72 per share on revenue of $5.73 billion. The Earnings Whisper number was $0.76 per share. The company missed expectations by 2.63% while revenue grew 19.38% on a year-over-year basis.
Rocket Companies (RKT) reported earnings of $0.07 per share on revenue of $1.38 billion for the first quarter ended March 2024. The consensus estimate was a loss of $0.01 per share on revenue of $1.01 billion. The company beat consensus estimates by 800.00% while revenue grew 107.74% on a year-over-year basis.The company said it expects second quarter revenue of $1.075 billion to $1.225 billion. The current consensus revenue estimate is $1.25 billion for the quarter ending June 30, 2024.
QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Earnings 5-2-24
AAPL 5-2 A
SQ 5-2 A
RKT 5-2 A
PLTR 5-6 A
DIS 5-7 B
BP 5-7 B
TOST 5-7 A
UPST 5-7 A
RNG 5-7 A
TWLO 5-7 A
IRBT 5-7 A
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
PLUG 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
ZM 5-20 A
NVDA 5-22 A
AI 5-29 A
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QUALCOMM (QCOM) reported earnings of $2.44 per share on revenue of $9.39 billion for the fiscal second quarter ended March 2024. The consensus earnings estimate was $2.31 per share on revenue of $9.32 billion. The Earnings Whisper number was $2.49 per share. The company missed expectations by 2.01% while revenue grew 1.23% on a year-over-year basis.The company said it expects third quarter non-GAAP earnings of $2.15 to $2.35 per share on revenue of $8.80 billion to $9.60 billion. The current consensus earnings estimate is $2.17 per share on revenue of $9.05 billion for the quarter ending June 30, 2024.
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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Block expected to post blowout Q1 earnings on back of strong outlook
https://www.msn.com/en-us/money/markets/block-expected-to-post-blowout-q1-earnings-on-back-of-strong-outlook/ar-AA1nZPoP?ocid=BingNewsSerp
Block (NYSE:SQ), the Square and Cash App parent company, is expected to record an increase in both earnings and revenue when it reports first-quarter 2024 results on Wednesday after market close.
The average sell-side analyst sees Q1 adjusted EPS jumping to $0.73 from $0.46 in the previous quarter and $0.40 in the year-earlier period. Total net revenue, too, is forecast to advance to $5.82B from $5.77B in Q4 2023 and $4.99B in Q1 2023.
Jefferies analyst Trevor Williams is calling for another consensus beat on gross profit and EBITDA, though “we see less potential for a major [positive] surprise.
“Despite that, we expect this qtr. to further underscore SQ’s new era of focus and efficiency (faster product velocity on slower expenses growth) and see plenty that can support the bull case for sustainable mid-teens+ growth,” he wrote in a note to clients Monday.
In February, investors bid up the SQ greatly after the payment and fintech app company said it plans to grow its business by getting Cash App users to bank with it, moving up market to service families, and building the next-generation social bank. That announcement was accompanied by an increase in Block’s (SQ) full-year 2024 adjusted EBITDA guidance to above Wall Street expectations.
“For the full year, management issued an ‘at least’ guide, meaning Block could very likely produce far better results than its guidance,” said SA analyst Riyado Sofian. Even if Block (SQ) doesn’t outpace expectations and easily top its guidance, as Sofian believes will be the case, it “still has a long growth runway ahead as Square and Cash App combined have less than 5% market penetration today, with over $205B of Gross Profit opportunity up for grabs.”
Block (SQ) has a solid track record in exceeding earnings expectations, with eight of the last twelve quarterly earnings coming in above consensus. Wall Street has been quite bullish on the profit outlook, with 20 upward EPS revisions over the last three months, compared with just four downward revisions. The revenue outlook was a little more iffy (13 upward revisions vs. eight downward revisions).
Bank of America contended in a recent note that a positive catalyst could include in-line gross profit, with 2024 guidance reiterated, and some EBITDA upside, when SQ discloses Q1 results Wednesday.
Separately, shares of Oakland, California-based Block (SQ) dropped 9.2% in Tuesday midafternoon trading at least partly amid a report that federal prosecutors are examining financial transactions at the company
Market Chatter: Block Under Probe for Alleged Compliance Malpractices
10:46:23 AM ET, 05/01/2024 - MT Newswires
10:46 AM EDT, 05/01/2024 (MT Newswires) -- Block (SQ) is said to be under probe for alleged compliance lapses at its Square and Cash App units, NBC News reported Wednesday, citing two unnamed sources familiar with the matter.
NBC said prosecutors from the Southern District of New York are looking into the company's documents and internal practices after a former employee disclosed certain malpractices within the group. According to the former employee, Block collected insufficient information for Square and Cash App customers' risk assessment, Square processed thousands of transactions involving countries with economic sanctions, and Block processed cryptocurrency transactions for terrorist groups.
The former employee provided about 100 pages of supporting documents to NBC and said Block did not correct the processes when informed of the transactions, the report added. NBC said a second source familiar with the company's practices and monitoring programs backed the former employee's allegations.
According to NBC, a Block spokeswoman said the company voluntarily reported the transactions described by the former employee to the Office of Foreign Assets Control under the US Treasury and that the company maintains a "responsible and extensive compliance program."
Block did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
SQ cpps 68.85 w low 67.74 Gap 68.44 ✔️
RB tgts: earnings gap (68.44) & 200 day (cur 64.51)
Next earnings 5/2 A
Open Gaps
Direction Date range
up Feb-23-2024 68.44 to 78.47 Earnings Gap Filled 48 days
up Feb-22-2024 65 to 65.65 (takes 200 day tag)
up Nov-15-2023 55.33 to 55.45
up Nov-14-2023 52.21 to 53.82
up Nov-03-2023 44.1 to 48.4
up Nov-02-2023 41.1 to 42.78
PYPL Analyst Targets
Susquehanna Adjusts PayPal Holdings' Price Target to $71 From $65, Keeps Neutral Rating
RBC Capital Raises PayPal's Price Target to $84 From $74
Mizuho Adjusts Price Target on PayPal Holdings to $68 From $60
Morgan Stanley Raises Price Target on PayPal Holdings to $67 From $62, Notes 'Slight Improvement' in Outlook; Equalweight Kept
TD Cowen Adjusts Price Target on PayPal to $68 From $58, Maintains Hold Rating
Goldman Sachs Adjusts Price Target on PayPal to $76 From $74, Maintains Buy Rating
JPMorgan Adjusts Price Target on PayPal to $77 From $70, Keeps Overweight Rating
Baird Adjusts Price Target on PayPal to $77 From $70, Keeps Outperform Rating
Evercore ISI Adjusts Price Target on PayPal to $65 From $60, Keeps In Line Rating
Stephens Adjusts Price Target on PayPal to $75 From $70, Keeps Equalweight Rating
BMO Capital Adjusts Price Target on PayPal to $65 From $64, Keeps Market Perform Rating
Citigroup Adjusts Price Target on PayPal to $79 From $73, Keeps Buy Rating
Wells Fargo Adjusts Price Target on PayPal to $65 From $60, Keeps Equalweight Rating
Jefferies Adjusts Price Target on PayPal to $70 From $65, Keeps Hold Rating
Monness Crespi Hardt Raises PayPal's Price Target to $88 From $80
Macquarie Adjusts Price Target on PayPal to $85 From $75, Keeps Outperform Rating
BNP Paribas Exane Adjusts Price Target on PayPal to $64 From $63, Keeps Neutral Rating
RIG Q1 2024 Earnings Transcript
https://finance.yahoo.com/news/transocean-rig-q1-2024-earnings-211512559.html
AMZN Analyst Targets
Itau BBA Securities Adjusts Price Target on Amazon.com to $210 From $200, Keeps Outperform Rating
BMO Capital Adjusts Price Target on Amazon.com to $220 From $215, Keeps Outperform Rating
Bernstein Adjusts Price Target on Amazon.com to $210 From $200, Keeps Outperform Rating
Barclays Adjusts Price Target on Amazon.com to $230 From $220, Maintains Overweight Rating
Baird Adjusts Price Target on Amazon.com to $210 From $205, Keeps Outperform Rating
Citigroup Adjusts Price Target on Amazon.com to $245 From $235, Keeps Buy Rating
Goldman Sachs Adjusts Price Target on Amazon.com to $225 From $220, Keeps Buy Rating
HSBC Adjusts Amazon.com's Price Target to $220 From $200, Keeps Buy Rating
Maxim Raises Amazon's Price Target to $238 From $218
Monness Crespi Hardt Raises Amazon's Price Target to $225 From $215
Mizuho Securities Adjusts Price Target on Amazon.com to $240 From $230, Keeps Buy Rating
Morgan Stanley Adjusts Price Target on Amazon.com to $220 From $215, Maintains Overweight Rating
MoffettNathanson Adjusts Amazon.com's Price Target to $246 From $230
JPMorgan Adjusts Price Target on Amazon.com to $240 From $225, Keeps Overweight Rating
Oppenheimer Adjusts Amazon.com's Price Target to $220 From $210
Piper Sandler Adjusts Price Target on Amazon.com to $220 From $205, Keeps Overweight Rating
Raymond James Adjusts Price Target on Amazon.com to $205 From $200, Maintains Strong Buy Rating
Roth MKM Adjusts Price Target on Amazon.com to $210 From $205, Maintains Buy Rating
Stifel Adjusts Price Target on Amazon.com to $228 From $224, Keeps Buy Rating
Seaport Global Securities Adjusts Amazon Price Target to $210 From $200
Telsey Advisory Adjusts Price Target on Amazon.com to $215 From $200, Keeps Outperform Rating
Truist Securities Adjusts Price Target on Amazon.com to $220 From $216, Maintains Buy Rating
Wells Fargo Adjusts Price Target on Amazon.com to $234 From $217, Keeps Overweight Rating
Wolfe Research Adjusts Price Target on Amazon.com to $220 From $205, Keeps Outperform Rating
Earnings 4-30-24
QCOM 5-1 A
AAPL 5-2 A
SQ 5-2 A
RKT 5-2 A
PLTR 5-6 A
DIS 5-7 B
BP 5-7 B
TOST 5-7 A
UPST 5-7 A
RNG 5-7 A
TWLO 5-7 A
IRBT 5-7 A
SHOP 5-8 B
PERI 5-8 B
TTD 5-8 A
ABNB 5-8 A
RBLX 5-9 B
HD 5-14 B
CSCO 5-15 A
WMT 5-16 B
NVDA 5-22 A
AI 5-29 A
________________________________________________________
Amazon.com (AMZN) reported earnings of $0.98 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.81 per share on revenue of $142.55 billion. The Earnings Whisper number was $0.90 per share. The company beat expectations by 8.89%.The company said it expects second quarter revenue of $144.0 billion to $149.0 billion. The current consensus revenue estimate is $150.22 billion for the quarter ending June 30, 2024.
Starbucks (SBUX) reported earnings of $0.68 per share on for the fiscal second quarter ended March 2024. The consensus earnings estimate was $0.79 per share on revenue of $9.17 billion. The Earnings Whisper number was $0.80 per share. The company missed expectations by 15.00%.
Supermicro (SMCI) reported earnings of $6.65 per share on for the fiscal third quarter ended March 2024. The consensus earnings estimate was $5.79 per share on revenue of $4.01 billion. The Earnings Whisper number was $6.00 per share. The company beat expectations by 10.83%.The company said it expects fourth quarter earnings of $7.62 to $8.42 per share on revenue of $5.10 billion to $5.50 billion. The current consensus earnings estimate is $6.99 per share on revenue of $4.91 billion for the quarter ending June 30, 2024.
3M (MMM) reported earnings of $2.39 per share on revenue of $8.00 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.08 per share on revenue of $7.64 billion. The Earnings Whisper number was $2.14 per share. The company beat expectations by 11.68% while revenue fell 0.35% compared to the same quarter a year ago.The company said it expects 2024 earnings of $6.80 to $7.30 per share, with the spin-off of Solventum. The current consensus earnings estimate is $8.19 per share for the year ending December 31, 2024.
PayPal (PYPL) reported earnings of $1.40 per share on revenue of $7.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.24 per share on revenue of $7.50 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 11.11% while revenue grew 9.36% on a year-over-year basis.The company said it expects second quarter earnings of approximately $0.98 per share and 2024 earnings of $3.98 to $4.17 per share, using its new Non-GAAP metholdolgy. The current consensus estimate is earnings of $0.93 per share for the quarter ending June 30, 2024 and earnings of $4.02 per share for the year ending December 31, 2024.
Coca-Cola (KO) reported earnings of $0.72 per share on revenue of $11.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.69 per share on revenue of $10.95 billion. The Earnings Whisper number was $0.71 per share. The company beat expectations by 1.41% while revenue grew 2.91% on a year-over-year basis.The company said it continues to expect 2024 earnings of $2.80 to $2.82 per share. The current consensus earnings estimate is $2.81 per share for the year ending December 31, 2024.
McDonalds (MCD) reported earnings of $2.70 per share on revenue of $6.17 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.71 per share on revenue of $6.17 billion. The Earnings Whisper number was $2.80 per share. The company missed expectations by 3.57% while revenue grew 4.60% on a year-over-year basis.
Transocean (RIG) reported a loss of $0.03 per share on revenue of $763.00 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.13 per share on revenue of $779.56 million. The Earnings Whisper number was a loss of $0.09 per share. The company beat expectations by 66.67% while revenue grew 17.57% on a year-over-year basis.
Rambus (RMBS) reported earnings of $0.30 per share on revenue of $117.87 million for the first quarter ended March 2024. The consensus earnings estimate was $0.44 per share on revenue of $132.00 million. The Earnings Whisper number was $0.47 per share. The company missed expectations by 36.17% while revenue grew 3.61% on a year-over-year basis.The company said it expects second quarter revenue of $130.0 million to $148.0 million. The current consensus revenue estimate is $138.70 million for the quarter ending June 30, 2024.
Roper Technologies (ROP) reported earnings of $4.41 per share on revenue of $1.68 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.34 per share on revenue of $1.65 billion. The company beat consensus estimates by 1.61% while revenue grew 14.36% on a year-over-year basis.The company said it expects second quarter earnings of $4.42 to $4.46 per share and now expects 2024 earnings of $18.05 to $18.25 per share. The company's previous guidance was 2024 earnings of $17.85 to $18.15 per share. The current consensus estimate is earnings of $4.46 per share for the quarter ending June 30, 2024 and earnings of $18.08 per share for the year ending December 31, 2024.
Chevron (CVX) reported earnings of $2.93 per share on revenue of $48.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $2.84 per share on revenue of $51.17 billion. The Earnings Whisper number was $3.06 per share. The company missed expectations by 4.25% while revenue fell 4.09% compared to the same quarter a year ago.
Snap (SNAP) reported earnings of $0.03 per share on for the first quarter ended March 2024. The consensus estimate was a loss of $0.04 per share on revenue of $1.12 billion. The Earnings Whisper number was a loss of $0.01 per share. The company beat expectations by 400.00%.The company said it expects second quarter revenue of $1.225 billion to $1.255 billion. The current consensus revenue estimate is $1.21 billion for the quarter ending June 30, 2024.
Microsoft (MSFT) reported earnings of $2.94 per share on revenue of $61.86 billion for the fiscal third quarter ended March 2024. The consensus earnings estimate was $2.81 per share on revenue of $60.77 billion. The Earnings Whisper number was $2.91 per share. The company beat expectations by 1.03% while revenue grew 17.03% on a year-over-year basis.
Alphabet (GOOGL) reported earnings of $1.89 per share on revenue of $80.54 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.49 per share on revenue of $78.61 billion. The Earnings Whisper number was $1.55 per share. The company beat expectations by 21.94% while revenue grew 15.41% on a year-over-year basis.
Intel (INTC) reported earnings of $0.18 per share on revenue of $12.72 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.11 per share on revenue of $12.77 billion. The Earnings Whisper number was $0.15 per share. The company beat expectations by 20.00% while revenue grew 8.61% on a year-over-year basis.The company said it expects second quarter non-GAAP earnings of approximately $0.10 per share on revenue of $12.50 billion to $13.50 billion. The current consensus earnings estimate is $0.25 per share on revenue of $13.60 billion for the quarter ending June 30, 2024.
Roku (ROKU) reported a loss of $0.35 per share on revenue of $881.47 million for the first quarter ended March 2024. The consensus estimate was a loss of $0.64 per share on revenue of $850.97 million. The Earnings Whisper number was a loss of $0.56 per share. The company beat expectations by 37.50% while revenue grew 18.96% on a year-over-year basis.
Teradyne (TER) reported earnings of $0.51 per share on revenue of $599.82 million for the first quarter ended March 2024. The consensus earnings estimate was $0.33 per share on revenue of $566.46 million. The Earnings Whisper number was $0.37 per share. The company beat expectations by 37.84% while revenue fell 2.87% compared to the same quarter a year ago.The company said it expects second quarter earnings of $0.64 to $0.84 per share on revenue of $665.0 million to $725.0 million. The current consensus earnings estimate is $0.66 per share on revenue of $635.91 million for the quarter ending June 30, 2024.
Ford Motor (F) reported earnings of $0.49 per share on for the first quarter ended March 2024. The consensus earnings estimate was $0.42 per share on revenue of $40.64 billion. The Earnings Whisper number was $0.48 per share. The company beat expectations by 2.08%.
Meta Platforms (META) reported earnings of $4.71 per share on for the first quarter ended March 2024. The consensus earnings estimate was $4.32 per share on revenue of $36.15 billion. The Earnings Whisper number was $4.51 per share. The company beat expectations by 4.43%.
AT&T (T) reported earnings of $0.55 per share on revenue of $30.03 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.53 per share on revenue of $30.54 billion. The Earnings Whisper number was $0.53 per share. The company beat expectations by 3.77% while revenue fell 0.37% compared to the same quarter a year ago.The company said it continues to expect 2024 earnings of $2.15 to $2.25 per share. The current consensus earnings estimate is $2.21 per share for the year ending December 31, 2024.
RTX (RTX) reported earnings of $1.34 per share on revenue of $19.31 billion for the first quarter ended March 2024. The consensus earnings estimate was $1.23 per share on revenue of $18.41 billion. The Earnings Whisper number was $1.26 per share. The company beat expectations by 6.35% while revenue grew 12.15% on a year-over-year basis.The company said it continues to expect 2024 earnings of $5.25 to $5.40 per share on revenue of $78.0 billion to $79.0 billion. The current consensus earnings estimate is $5.39 per share on revenue of $78.6 billion for the year ending December 31, 2024.
Tesla (TSLA) reported earnings of $0.45 per share on revenue of $21.30 billion for the first quarter ended March 2024. The consensus earnings estimate was $0.49 per share on revenue of $22.71 billion. The Earnings Whisper number was $0.41 per share. The company beat expectations by 9.76% while revenue fell 8.69% compared to the same quarter a year ago.
Netflix (NFLX) reported earnings of $5.28 per share on revenue of $9.37 billion for the first quarter ended March 2024. The consensus earnings estimate was $4.51 per share on revenue of $9.25 billion. The Earnings Whisper number was $4.61 per share. The company beat expectations by 14.53% while revenue grew 14.81% on a year-over-year basis.The company said it expects second quarter earnings of approximately $4.68 per share on revenue of approximately $9.49 billion. The current consensus earnings estimate is $4.53 per share on revenue of $9.53 billion for the quarter ending June 30, 2024.
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DOCU
FDX
FIZZ
MESA
NKE
PATH
PD
PLUG
ZM
AMZN reports after bell
cpps 179
200d 151
Gap 173.92 159.76
Amazon.com, Inc. (NASDAQ:AMZN) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 75,730,000 shares, an increase of 7.3% from the March 31st total of 70,550,000 shares. Based on an average daily volume of 42,200,000 shares, the short-interest ratio is presently 1.8 days.
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
07:39:14 AM ET, 04/30/2024 - Reuters
(Adds shares in paragraph 2)
April 30 (Reuters) - PayPal raised its full-year adjusted profit forecast on Tuesday, as the payments giant benefited from robust consumer spending, while measures to cut costs improved operating margins in the first quarter.
Shares of the company were last up 4% in volatile premarket trading after the results.
Consumer spending has shown remarkable resilience even as economic worries clouded the outlook for the payments sector for months. Though lower-income brackets have curbed discretionary purchases, most Americans are still looking to shop online, dine-out and travel.
PayPal's newly appointed management is also aiming to reignite investor confidence through efforts to make the company leaner and lower costs to ease pressure on its stock, which was among the worst performers on the Nasdaq last year.
Earlier this year, PayPal had announced plans to cut about 2,500 jobs, or 9% of its global workforce.
"2024 remains a transition year and we are focused on execution — driving our key strategic initiatives, realizing cost-savings and reinvesting appropriately," said CEO Alex Chriss.
The company expects 2024 adjusted profit to increase by "mid-to-high single-digit percentage", compared with its earlier forecast of it remaining flat.
PayPal also expects second-quarter revenue to grow 7% on FX-neutral basis, largely in line with Wall Street expectations.
Total payment volumes increased 14% to $403.9 billion in the first quarter, while net revenue climbed 10% to $7.7 billion on a currency-neutral basis.
PayPal's operating margins improved 84 basis points, on an adjusted basis, to 18.2% in the first quarter. Its margins have been central to investor anxieties over the last year as growth slowed post-pandemic.
The company's low-margin business products have risen strongly, while growth in its branded products slowed due to increased pressure from competitors such as Apple.
Its adjusted earnings per share rose to $1.08 in the three months ended March 31, compared with 85 cents a year ago. (Reporting by Manya Saini and Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar)
THIS BOARD IS FOR TRACKING STOCKS I FOLLOW, OWN OR TRADE
Charts are repeated often, and changes are followed and tracked for MY own purpose.
The Price listed on ANY post, is the PRICE PER SHARE AT THE TIME OF PAGE CREATION.
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Apple, Inc (Nasd: AAPL)
Amazon.Com (Nasdaq: AMZN)
Docusign (Nasd: DOCU)
Google(Nasd: GOOGL)
Irobot Corp (Nasd: IRBT)
Plug Power(Nasd: PLUG)
Pelaton (Nasd: PTON)
PayPal Holdings (Nasd: PYPL)
Roblox Corp (Nyse: RBLX )
Reddit Inc (Nyse: RDDT)
Transocean (Nyse: RIG)
Rivian Automotive (Nasd: RIVN)
Ringcentral, Inc (Nyse: RNG)
Roku, Inc (Nasd: ROKU)
Shopify, Inc. (Nyse: SHOP)
Block, Inc (Nyse: SQ)
Tesla(Nasd: TSLA) 94.66 81.86 GAPS
Twilio Inc (NYSE: TWLO)
Upstart Holdings (Nasd: UPST)
Zoom Video (Nasd: ZM)
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SQ 84rg/Gap 68.44/ GOOGL 157rg
SHOP 51rg/PYPL 25g's on CP/ Iran
UPST 92rg/AAPL 141rg/ RNG 45rg/HA234rg/AMC 779rg
D RNG 5200 AMZN 1600
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